The losses Thursday build on steep losses after Wednesday’s closing bell, when SolarCity said it expects a bigger loss for the fourth quarter. The installer of solar panels predicted an adjusted fourth-quarter loss of 55 cents to 65 cents a share, while analysts had expected a loss of 53 cents a share.

SolarCity reported a third-quarter loss of 43 cents a share, compared with analyst expectations of a loss of 48 cents a share.

Shares of SolarCity are often volatile, as about three-quarters of the company is owned by a few insiders, including Tesla founder Elon Musk, leaving relatively little to be freely traded on the stock market.

The company had announced a new way to finance installations of its solar-power systems on Monday, and the stock surged then. With the fourth-quarter outlook on Wednesday, however, shares are down 4.3% on the week.

SolarCity has gained 337% so far this year, a performance largely in line with other solar stocks.

The solar sector has seen its fair share of boom and busts but lately has attracted more attention on hopes of strong demand in developed markets and a pickup in demand in emerging markets.

Global demand for solar power is seen at about 46 gigawatts in 2014 and 53 gigawatts in 2015, up from 36.8 gigawatts this year, analysts at Baird said in a recent note to clients.

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